Spectris Plc Correlations

SEPJF Stock

USD 52.01 0.00 0.00%

The correlation of Spectris Plc is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Spectris Plc Correlation With Market

Excellent diversification

The correlation between Spectris plc and DJI is -0.58 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectris plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Spectris Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Spectris Plc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Spectris Plc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Spectris plc to buy it.

Moving together with Spectris Pink Sheet

0.62

TRMB

Trimble

Pair Corr

Moving against Spectris Pink Sheet

0.7	MKSI	MKS Instruments	Pair Corr
0.67	TDY	Teledyne Technologies	Pair Corr
0.54	COHR	Coherent	Pair Corr
0.5	COHG	Cheetah Oil Gas	Pair Corr
0.45	KEYS	Keysight Technologies	Pair Corr
0.44	SBYSF	Sibanye Stillwater	Pair Corr
0.4	KYCCF	Keyence	Pair Corr
0.35	GRMN	Garmin	Pair Corr
0.31	FTV	Fortive Corp Sell-off Trend	Pair Corr
0.63	THLEF	Thales SA	Pair Corr
0.61	NLY	Annaly Capital Management	Pair Corr
0.59	GRP-UN	Granite Real Estate	Pair Corr
0.57	SLF	Sun Life Financial	Pair Corr
0.57	MTZ	MasTec Inc	Pair Corr
0.54	NVRI	Enviri	Pair Corr
0.53	NDGPY	Nine Dragons Paper	Pair Corr
0.53	ISUZF	Isuzu Motors Limited	Pair Corr
0.5	ACTG	Acacia Research Earnings Call Next Week	Pair Corr
0.46	ZHAOF	Zhaojin Mining Industry	Pair Corr
0.46	GRBMF	Grupo Bimbo SAB	Pair Corr
0.45	NYT	New York Times	Pair Corr
0.4	CENT	Central Garden Pet	Pair Corr
0.4	LXFR	Luxfer Holdings PLC	Pair Corr
0.38	FHI	Federated Investors	Pair Corr
0.37	EFSC	Enterprise Financial	Pair Corr
0.31	ACKAY	Arcelik AS ADR	Pair Corr
0.76	CIG-C	Energy of Minas	Pair Corr
0.75	TOELF	Tokyo Electron	Pair Corr
0.65	LEO	BNY Mellon Strategic	Pair Corr
0.64	TER	Teradyne	Pair Corr
0.63	NPSCY	Nippon Steel Corp	Pair Corr
0.61	WEICF	Weichai Power	Pair Corr

Related Correlations Analysis

	FLXT	ESNR	ASPT	ALPE	DCLT	RCTY	GUESF	PSWR	NTEK
FLXT		1.0	1.0	0.0	1.0	1.0	1.0	0.0	1.0	FLXT
ESNR	1.0		1.0	0.0	1.0	1.0	1.0	0.0	1.0	ESNR
ASPT	1.0	1.0		0.0	1.0	1.0	1.0	0.0	1.0	ASPT
ALPE	0.0	0.0	0.0		0.0	0.0	0.0	-0.27	0.0	ALPE
DCLT	1.0	1.0	1.0	0.0		1.0	1.0	0.0	1.0	DCLT
RCTY	1.0	1.0	1.0	0.0	1.0		1.0	0.0	1.0	RCTY
GUESF	1.0	1.0	1.0	0.0	1.0	1.0		0.0	1.0	GUESF
PSWR	0.0	0.0	0.0	-0.27	0.0	0.0	0.0		0.0	PSWR
NTEK	1.0	1.0	1.0	0.0	1.0	1.0	1.0	0.0		NTEK
	FLXT	ESNR	ASPT	ALPE	DCLT	RCTY	GUESF	PSWR	NTEK

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ESNR	+ 1.0	FLXT
ASPT	+ 1.0	FLXT
DCLT	+ 1.0	FLXT
RCTY	+ 1.0	FLXT
GUESF	+ 1.0	FLXT
NTEK	+ 1.0	FLXT

High negative correlations

PSWR	- 0.27	ALPE
NTEK	- 0.0	PSWR
PSWR	- 0.0	GUESF
PSWR	- 0.0	RCTY
PSWR	- 0.0	DCLT
NTEK	- 0.0	ALPE

Risk-Adjusted Indicators

There is a big difference between Spectris Pink Sheet performing well and Spectris Plc Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Spectris Plc's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Maximum Drawdown
FLXT	0.00	0.00	0.00	0.00
ESNR	0.00	0.00	0.00	0.00
ASPT	0.00	0.00	0.00	0.00
ALPE	2.65	(1.41)	(0.84)	88.89
DCLT	0.00	0.00	0.00	0.00
RCTY	0.00	0.00	0.00	0.00
GUESF	0.00	0.00	0.00	0.00
PSWR	5.97	3.05	(3.13)	200.00
NTEK	0.00	0.00	0.00	0.00

Spectris Plc Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Spectris Plc pink sheet to make a market-neutral strategy. Peer analysis of Spectris Plc could also be used in its relative valuation, which is a method of valuing Spectris Plc by comparing valuation metrics with similar companies.

Flexpoint Sensor Systems Electronic Sensor Technology Haber Inc alpha En Data Call Technologi Rocket City Enterprises GuestLogix Prism Software NanoTech Entertainment American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Spectris Plc Corporate Management

Andrew Heath	Chief Executive Designate	Profile
Rebecca Dunn	Head Governance	Profile
MSc MA	Independent Director	Profile
Siobhan Andrews	Head of Corporate Affairs, Investor Relationship	Profile
Mark Fleiner	Pres Panalytical	Profile
Judith Wettach	Head Devel	Profile

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